Economic Calendar
Click on the link below to find out more about the data releases of this and other currency exchange rates.
GBP/USD short-term review
The exchange rate could continue to decline within the following trading session. A breakout through the lower boundary of a descending channel pattern could occur.However, if the channel pattern holds, bullish traders could pressure the GBP/USD currency exchange rate higher within this session.
Hourly Chart
GBP/USD daily chart's review
On the daily candle chart, the exchange rate continues to test the resistance of the 1.3900 mark.If the 1.3900 fails to provide resistance, the pair could reach the 100-day simple moving average near 1.3935 and, afterwards, the 1.4000 mark together with the 55-day SMA.
However, a potential decline could once again look for support in the 1.3600 mark before reaching for the January low level near the 1.3500 level.
Daily chart
Read More: Technical Analysis
Traders are bullish
On Tuesday, traders were long, as 53% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Wednesday, the market sentiment was 52% long.
Meanwhile, in the 100-pip range around the rate the pending orders were 55% to buy.
On Tuesday, traders were long, as 53% of traders open positions volume on the Swiss Foreign Exchange was in short positions.
On Wednesday, the market sentiment was 52% long.
Meanwhile, in the 100-pip range around the rate the pending orders were 55% to buy.